IL&FS crisis: NCLAT asks 'green' listed firms to service debt | Editorji
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IL&FS crisis: NCLAT asks 'green' listed firms to service debt

May 30, 2019 17:55 IST

The National Company Law Appellate Tribunal on Wednesday asked the IL&FS group companies to start servicing debts as per payment schedule after getting their terms-sheet approved. NCLAT's orders are for those companies which are or will get re-classified from 'amber' listed firms to 'green' category. For the companies under the 'red' category, the appellate said that the lenders will be asked to initiate insolvency proceedings, once the resolution of 'green' and 'amber' are completed.

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